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Cars, Bacon, Men’s Clothes: Main Drivers of 2021 U.S. Inflation

Wednesday, January 12, 2022
Cars, Bacon, Men’s Clothes: Main Drivers of 2021 U.S. Inflation © Reuters. Cars, Bacon, Men’s Clothes: Main Drivers of 2021 U.S. Inflation

(Bloomberg) -- U.S. inflation ended 2021 at red-hot levels, and its main drivers reflect the woes of the economic recovery as the country got hit by several waves of Covid-19.

Food costs, which account for about 14% of the consumer price index, jumped 6% in December from a year earlier, led by meats such as bacon -- up almost 19%.

Last year’s surge in car prices was a byproduct of component shortages that hit automakers globally. New and old motor vehicles, with a weight of more than 8% in the CPI index, jumped a record 20.9% last month.

And as Covid-19 variants continued to hamper supply chains, the cost of certain furniture items and cookware rose by records for Americans -- many of them still spending a lot more time at home than before the pandemic.

Millions returned to the office, too, even though the omicron variant in December has led many employers to backtrack on their return-to-office plans. That may explain the surge in apparel prices -- men’s clothes inflation is at a record high.

Read More: U.S. Inflation Hits 39-Year High of 7%, Sets Stage for Fed Hike

Rents rose 4.2% last month, the most since February 2007. Economists expect rents, unlike many other prices, to accelerate this year.

(A previous version of the story corrected the table to remove an item.)

©2022 Bloomberg L.P.

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24-01-2022 05:03:00 (UTC+7)

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 EUR/USD1.1325Neutral
 GBP/USD1.3524↑ Sell
 USD/JPY113.61↑ Buy
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 USD/CAD1.2602Neutral
 EUR/JPY128.65Buy
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 Gold1,841.05↑ Sell
 Silver24.245Sell
 Copper4.4655↑ Buy
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 US Coffee C235.93Neutral
 Euro Stoxx 504,163.25Neutral
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 DAX15,407.05↑ Sell
 FTSE 1007,440.32↑ Buy
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 BASF65.485↑ Buy
 Bayer51.20↑ Sell
 Allianz220.57↑ Buy
 Adidas246.85Sell
 Lufthansa6.769↑ Sell
 Siemens AG142.97↑ Buy
 Deutsche Bank AG11.194↑ Buy
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# So hôm qua # Chênh TG
SJC Eximbank6,170/ 6,210
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SJC Nhatrang6,150/ 6,212
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